Measuring Knowledge-capital Stock and Its Relationship with Economic Growth in the Mexican States

This paper explores the role of imports as a mechanism of transmission of international technology spillovers and its significance for the growth of the OECD countries. For this purpose we estimate a version of the growth model proposed by Benhabib and Spiegel (1994), which includes two main modifications in order to better specify the nature of international knowledge diffusion. The first is the inclusion of the R&D capital stock into this framework. The second consist of using a direct measurement of international technology spillovers instead of using per capita GDP gap in respect to the leader country as approach to it. Our results reveal that international technology spillovers transmitted through imports have had a favourable influence on the economic growth of the OECD countries. However, they show the predominant role of the domestic human and R&D capital endowments in economic growth.

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The Voracity Effect

The American Economic Review ◽

10.1257/aer.89.1.22 ◽

1999 ◽

Vol 89 (1) ◽

pp. 22-46 ◽

Cited By ~ 631

Author(s):

Aaron Tornell ◽

Philip R Lane

Keyword(s):

Economic Growth ◽

Open Access ◽

Capital Stock ◽

Terms Of Trade ◽

Institutional Infrastructure

We analyze an economy that lacks a strong legal-political institutional infrastructure and is populated by multiple powerful groups. Powerful groups dynamically interact via a fiscal process that effectively allows open access to the aggregate capital stock. In equilibrium, this leads to slow economic growth and a “voracity effect,” by which a shock, such as a terms of trade windfall, perversely generates a more-than-proportionate increase in fiscal redistribution and reduces growth. We also show that a dilution in the concentration of power leads to faster growth and a less procyclical response to shocks. (JEL F43, O10, O23, O40)

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The Soviet Capital Stock, 1928–1962. By Richard Moorsteen and Raymond P. Powell. A publication of the Economic Growth Center, Yale University. Homewood, Ill.: Richard D. Irwin, Inc., 1966. Pp. xxiii, 671. $9.75.

The Journal of Economic History ◽

10.1017/s0022050700073460 ◽

1968 ◽

Vol 28 (3) ◽

pp. 479-482

Author(s):

Earl R. Brubaker

Keyword(s):

Economic Growth ◽

Capital Stock ◽

Yale University ◽

Growth Center

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Endogenous Technical Progress in the Theory of Economic Growth

ISRN Economics ◽

10.1155/2014/928121 ◽

2014 ◽

Vol 2014 ◽

pp. 1-5 ◽

Cited By ~ 1

Author(s):

Vladimir N. Pokrovskii

Keyword(s):

Economic Growth ◽

Technical Progress ◽

Capital Stock ◽

Production Equipment ◽

Us Economy ◽

Production Processes ◽

The Us ◽

Endogenous Technical Progress ◽

Theoretical Results

It is shown that substitutive work, which can be defined as work of production equipment (capital stock) replacing the efforts of workers in production processes, can be considered as a measure of technical progress. The methods of estimation of substitutive work are discussed. The theoretical results are illustrated on the data for the US. economy.

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Evidence on the Nexus Between Electricity Consumption and Economic Growth through Empirical Investigation of Uganda

Review of Economic and Business Studies ◽

10.1515/rebs-2016-0020 ◽

2015 ◽

Vol 8 (1) ◽

pp. 149-165

Author(s):

Lira Sekantsiand ◽

Mamofokeng Motlokoa

Keyword(s):

Economic Growth ◽

Granger Causality ◽

Capital Stock ◽

Capital Accumulation ◽

Electricity Consumption ◽

The Body ◽

Electricity Sector ◽

Short Term ◽

Short Run

AbstractThis paper empirically examines the electricity consumption - economic growth nexus in Uganda for the period 1982 to 2013, with a view to contributing to the body of literature on this topic and informing energy policy design in Uganda. Using capital stock as an intermittent variable in the causality framework, the paper employs Johansen-Juselius (1988, 1995) multivariate cointegration and VECM based Granger causality tests and finds a bidirectional causality between electricity consumption and economic growth in the long-term and distinct causal flow from economic growth to electricity consumption in the short-run, and short-term and long-term Granger causality from capital stock to economic growth, with short-run feedback in the opposite direction. Therefore, it implies that firstly, the Government of Uganda (GoU) can implement conservation policies only through reducing energy intensity and promoting efficient energy use to avoid decline in output and secondly, that the GoU should intensify its efforts towards capital accumulation in order to realize sustainable economic growth. Lastly, the empirical evidence that electricity consumption influences some short-term capital accumulation supports the GoU’s efforts to allow private sector investment in the electricity sector in an effort to increase electricity supply.

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